I think you're right that $49 is a sweet spot in the market. Our contacts at Google (the PowerMeter folks) say this is what they are hearing. Yet meanwhile, everyone making remotely interesting products is starting at 5x that price, and at Energy Circle, we're seeing significant volume for products selling at 20x that price (eMonitor).
Wattvision seems closest to me. Their component count is low, their value prop is high, cost of sales has to be minimal, so they just need to get volume up (buy, buy, buy!) and any extraneous costs removed. They can beat the competition just on simplicity.
There's one alternative now at $179, I think (Envi). It's a terribly limited product, and requires a connection inside the breaker panel. Their newly release connection (to Google PowerMeter) seems "gangly" and is still in early release.
BlueLine has the non-connected version (meter connection and display) for $99. But this is only part of the equation, and they have been beating that horse for many years. The new WiFi connected device is OK, but brings the price up to parity with Wattvision, with far more components, and complexity.
I love this gadget - we are trying to invest in energy efficiency (as a business - we pay upfront for efficiency improvements and collect a percentage of savings) and this could be a great way to reduce the cost of ongoing monitoring.